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Welcome to another edition of our weekly newsletter, where we bring you the latest updates and insights from the world of cryptocurrencies.
As always, we have scoured the internet and our sources to provide you with a brief outlook for the upcoming week and a quick recap of the most noteworthy events from last week.
Outlook for This Week
Hey everyone!
Hope you’re all doing well! Not a whole lot happening this week in the crypto space, but we’ve got a few key events to keep an eye on. Let’s dive in!
💼 BOC RATE STATEMENT AND PRESS CONFERENCE – WEDNESDAY
On Wednesday, the Bank of Canada (BoC) will release its rate statement and hold a press conference. While this isn’t directly related to crypto, any significant moves here could impact market sentiment. Keep your ears open for any hints about future economic policy.
🚀 COINBASE SMART WALLET LAUNCH – WEDNESDAY
Big news for Coinbase! On June 5, they’re rolling out their new Coinbase Smart Wallet. This new feature promises a much better on-chain user experience. It’s expected to make transactions smoother and more intuitive. I’m pretty excited to see how this plays out and whether it brings more people into the crypto space.
🏦 ECB CONFERENCE – THURSDAY
Thursday brings the European Central Bank’s (ECB) conference, where they’ll discuss monetary policy and the main refinancing rate. Similar to the BoC event, this isn’t a crypto-specific event, but it can influence market trends. Any big announcements here could ripple through the markets, including crypto.
🕒 PATIENCE IS KEY
Given the slow news week, it’s a good time to take a step back and remember that crypto is all about the long game. We might not see much action this week, but the day will come when we see major moves. Hang tight, and keep an eye on the horizon!
And there you have it! Keep these events on your radar and let’s see how the week unfolds. As always, I’ll be keeping a close eye on all the developments and share my thoughts with you.
Upcoming Token Unlocks
The unlocking of tokens brings previously locked tokens into circulation. As these events increase the supply of a token, they also affect its price.
Last Week’s Headlines
In case you missed it, here’s a quick recap of the most interesting events from last week. Join our free Telegram server to get daily summaries like this.
Mt. Gox Wallet Moves $9 Billion
Mt. Gox wallet transfers $9 billion worth of Bitcoin to a single address, triggering a BTC price drop. This move is part of the ongoing repayment plan to creditors from the infamous 2014 hack.
Biden Vetoes SAB 121 Repeal
President Biden vetoes the repeal of SAB 121, maintaining the SEC’s authority over crypto assets, which keeps regulatory oversight tight and impacts the crypto market.
BlackRock Overtakes Grayscale
BlackRock’s spot Bitcoin ETF has overtaken Grayscale, now holding 288,670 BTC compared to Grayscale’s 287,450 BTC. The shift comes after significant inflows into BlackRock’s fund.
Gemini Returns $2.2 Billion
After an 18-month freeze, Gemini returns $2.2 billion to users of its Earn platform, marking a significant step in restoring user trust and financial stability.
That’s it for this week. As always, stay curious, stay informed, and stay invested.
Wish you all a good start into the week!
Cheers,
Stefan Erben,
Co-Founder CryptoExplorer
Disclaimer: This newsletter is for educational purposes only and does not constitute financial advice or an offer to buy or sell assets. You must exercise caution and conduct your research before making any financial decisions.
